Poor Brother A: Banks

This is a story of a brother A and his sister L, who are still among us today at Gracepoint.

After getting all his money ripped off by his sister from the Carnival incident and the Library incident, and after getting his dignity destroyed by the House incident, the same brother A had good reasons to be skeptical. After months of careful saving, he had again collected about $20 for his life savings, and this time, he wasn't going to be fooled so easily.

Then one day, sister L came up to him and suggested that he deposit his money into her bank.

"No way!" he said, "I'm not going to be fooled again."

Sister L explained, "You don't understand. You can actually make money on banks. They have this thing called interest."

Brother A was very skeptical, but sister L carefully explained how banks invest the money, and then give returns on the interest. She explained that this was quite a normal thing, and that he would get back 10% interest if he deposited his money into her bank for 3 months.

This was a new kind of thing for brother A. In the previous experiences, brother A was duped into purchasing something or getting fined. But never was he given the choice of earning money. So brother A decided that he's going to deposit the money into the Bank of L. This time, brother A wrote this down so that he won't forget like he did for the Library incident.

Three months later, he went to sister L and asked for his $22.

"I don't have it," said sister L.

"What? What do you mean?"

"Your money is currently invested. That's how banks work. Come back next month, and I'll have it."

So brother A went back next month, but the same story was given. This happened again and again until brother A eventually forgot about it and stopped asking for the money.

Many experts claim that this incident was the beginning of the credit crisis that we face today.


William Kang said...

Andy, don't feel bad. Jesus is alive (though your $22 bucks is dead and gone). I'll cheer you up by letting you beat me in basketball, like I always do.

Anonymous said...

Just think how much interest he's earned by now!

Unknown said...

the things the older sisters do to their siblings...psychological torture

andy said...

I should start a petition to get my money back. This happened when I was like 7 or 8. If you work out the interest, I wonder how much interest I would have earned up to this point?

Anonymous said...

Well, according to the compound interest formula as found on Wikipedia...


Where A is the amount earned after time t;
P is the principal amount, $20;
r is the interest rate, 10%;
k is the number of times the interest is compounded per year, which appears to be 4, since the interest is to be paid in 3 months;
and t is the time, about 25 years.

Plugging these numbers in, we get A=20(1+.1/4)^(4*25)=$236.27

If sister L finally pays up, this will make up for the money lost in the Carnival incident and the Library incident.

(sorry, I have too much free time)

Anonymous said...

That's a pretty big interest rate -- after 30 years, you're almost at $2 million!

Unknown said...

Hi! This is Sister L. Many people have asked me why I have not commented. All I can say is I've paid it back many times in heaven. Brother A is Christian because I brought him to church! =)

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